Re:
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Investment Managers Series Trust (the “Trust”)
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Label | Element | Value | ||||||
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Risk/Return: | rr_RiskReturnAbstract | |||||||
Document Type | dei_DocumentType | Other | ||||||
Period End Date | dei_DocumentPeriodEndDate | Jul. 05, 2012 | ||||||
Registrant Name | dei_EntityRegistrantName | Investment Managers Series Trust | ||||||
CIK | dei_EntityCentralIndexKey | 0001318342 | ||||||
Amendment | dei_AmendmentFlag | false | ||||||
Creation Date | dei_DocumentCreationDate | May 17, 2013 | ||||||
Effective Date | dei_DocumentEffectiveDate | May 17, 2013 | ||||||
Prospectus Date | rr_ProspectusDate | Jul. 05, 2012 | ||||||
AAM/Bahl & Gaynor Income Growth Fund
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Risk/Return: | rr_RiskReturnAbstract | |||||||
Risk/Return | rr_RiskReturnHeading | SUMMARY SECTION
AAM/Bahl & Gaynor Income Growth Fund |
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Investment objective: | rr_ObjectiveHeading | Investment Objective |
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Investment objective | rr_ObjectivePrimaryTextBlock | The Fund’s investment objective is primarily current and growing income and |
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Secondary objectives | rr_ObjectiveSecondaryTextBlock | secondarily long-term capital appreciation. |
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Fees and expenses of the fund: | rr_ExpenseHeading | Fees and Expenses of the Fund |
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Fees and expenses of the fund, narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of the Fund. More information about these and other discounts is available from your financial professional and in the section titled “Class A Shares” on page 13 of the Prospectus. |
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Shareholder fees, caption | rr_ShareholderFeesCaption | Shareholder Fees(fees paid directly from your investment) |
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Annual fund operating expenses, heading | rr_OperatingExpensesCaption | Annual Fund Operating Expenses |
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Date Of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-10-31 | ||||||
Portfolio turnover, heading | rr_PortfolioTurnoverHeading | Portfolio Turnover |
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Portfolio turnover, narrative | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. The Fund is newly-created and, as a result, does not yet have a portfolio turnover rate. |
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Expense Breakpoint Discounts | rr_ExpenseBreakpointDiscounts | You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of the Fund. | ||||||
Expense Breakpoint, Minimum Investment Required | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | 50,000 | ||||||
Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | These expenses are estimated for the current fiscal year. | ||||||
Example, heading | rr_ExpenseExampleHeading | Example |
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Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This example is intended to help you compare the costs of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The one-year example and the first year of the three-year example are based on net operating expenses, which reflect the expense waiver/reimbursement by the Fund’s advisor. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
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Expense Example, No Redemption, Narrative | rr_ExpenseExampleNoRedemptionNarrativeTextBlock | You would pay the following expenses if you did not redeem your shares: |
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Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies |
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Strategy, Narrative | rr_StrategyNarrativeTextBlock | Under normal market conditions, the Fund will invest at least 80% of its assets plus borrowings for investment purposes in equity securities that have historically paid dividends. Although the Fund may invest in any size companies, it will primarily invest in the common stocks of large capitalization companies. The Fund’s sub-advisor considers large capitalization companies to be those with market capitalization of $10 billion or higher at the time of purchase. Under normal markets conditions, the Fund typically will invest in a diversified portfolio of 35 to 50 securities spread across a variety of economic sectors. Investments in and weightings of individual sectors will vary based on the sub-advisor’s assessment of company fundamentals, valuations and overall economic conditions. The Fund’s sub-advisor focuses on high-quality companies that typically produce steady earnings and dividend growth.
The Fund may invest in foreign securities. The Fund’s investments in foreign securities will primarily be in American Depositary Receipts and similar receipts (“ADRs”). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing |
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Risk, Narrative | rr_RiskNarrativeTextBlock | The Fund’s principal risks are mentioned below. Before you decide whether to invest in the Fund, carefully consider these risk factors and special considerations associated with investing in the Fund, which may cause investors to lose money.
Market Risk. The Fund’s share price may be affected by a sudden decline in the market value of an investment or by an overall decline in the stock market.
Equity Securities Risk. The value of the equity securities held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests.
Foreign Securities Risk. The prices of foreign securities may be more volatile than the securities of U.S. issuers because of economic and social conditions abroad, political developments, and changes in the regulatory environment of foreign countries. In addition, changes in exchange rates and interest rates may adversely affect the value of the Fund’s foreign investments. Foreign companies are generally subject to different legal and accounting standards than U.S. companies, and foreign financial intermediaries may be subject to less supervision and regulation than U.S. financial firms. The Fund’s investments in ADRs are also subject to these risks.
Risks of Mid-Cap and Small-Cap Companies. The securities of mid-cap or small-cap companies may be subject to more abrupt or volatile market movements and may have lower trading volumes or more erratic trading than securities of larger-sized companies or the market averages in general.
Focused Risk. Although the Fund is diversified, the Fund’s sub-advisor intends to focus its investments in the securities of a comparatively small number of issuers. Investment in securities of a limited number of issuers exposes the Fund to greater market risk and potential losses than if its assets were diversified among the securities of a greater number of issuers.
Management Risk. The skill of the Fund’s sub-advisor plays a significant role in the Fund’s ability to achieve its investment objective. |
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May Lose Money | rr_RiskLoseMoney | Before you decide whether to invest in the Fund, carefully consider these risk factors and special considerations associated with investing in the Fund, which may cause investors to lose money. | ||||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance |
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Performance, Narrative | rr_PerformanceNarrativeTextBlock | The Fund is new and it does not have a full calendar year performance record to compare against other mutual funds or broad measures of securities market performance such as indices. Performance information will be available after the Fund has been in operation for one calendar year. |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | The Fund is new and it does not have a full calendar year performance record to compare against other mutual funds or broad measures of securities market performance such as indices. | ||||||
AAM/Bahl & Gaynor Income Growth Fund | Class A Shares
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Risk/Return: | rr_RiskReturnAbstract | |||||||
Trading Symbol | dei_TradingSymbol | AFNAX | ||||||
Maximum sales charge (load) imposed on purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 5.50% | ||||||
Maximum deferred sales charge (load) (as a percentage of the lower of the net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | [1] | |||||
Redemption fee if redeemed within 90 days of purchase (as a percentage of amount redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | ||||||
Wire Fee | imstaam_WireFee | 20.00 | ||||||
Overnight check delivery fee | imstaam_CheckFee | 15.00 | ||||||
Retirement account fees (annual maintenance and redemption requests) | rr_ShareholderFeeOther | 15.00 | ||||||
Management fees | rr_ManagementFeesOverAssets | 0.80% | ||||||
Distribution and/or service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||||
Other expenses | rr_OtherExpensesOverAssets | 0.41% | [2] | |||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.46% | ||||||
Fee waiver and/or expense reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.06%) | [3] | |||||
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) | rr_NetExpensesOverAssets | 1.40% | [3] | |||||
Expense Example, 1 YEAR | rr_ExpenseExampleYear01 | 809 | ||||||
Expense Example, 3 YEARS | rr_ExpenseExampleYear03 | 1,005 | ||||||
Expense Example, No Redemption, 1 YEAR | rr_ExpenseExampleNoRedemptionYear01 | 709 | ||||||
Expense Example, No Redemption, 3 YEARS | rr_ExpenseExampleNoRedemptionYear03 | 1,005 | ||||||
AAM/Bahl & Gaynor Income Growth Fund | Class C Shares
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Risk/Return: | rr_RiskReturnAbstract | |||||||
Trading Symbol | dei_TradingSymbol | AFYCX | ||||||
Maximum sales charge (load) imposed on purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||
Maximum deferred sales charge (load) (as a percentage of the lower of the net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | [1] | |||||
Redemption fee if redeemed within 90 days of purchase (as a percentage of amount redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | ||||||
Wire Fee | imstaam_WireFee | 20.00 | ||||||
Overnight check delivery fee | imstaam_CheckFee | 15.00 | ||||||
Retirement account fees (annual maintenance and redemption requests) | rr_ShareholderFeeOther | 15.00 | ||||||
Management fees | rr_ManagementFeesOverAssets | 0.80% | ||||||
Distribution and/or service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | ||||||
Other expenses | rr_OtherExpensesOverAssets | 0.41% | [2] | |||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 2.21% | ||||||
Fee waiver and/or expense reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.06%) | [3] | |||||
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) | rr_NetExpensesOverAssets | 2.15% | [3] | |||||
Expense Example, 1 YEAR | rr_ExpenseExampleYear01 | 318 | ||||||
Expense Example, 3 YEARS | rr_ExpenseExampleYear03 | 685 | ||||||
Expense Example, No Redemption, 1 YEAR | rr_ExpenseExampleNoRedemptionYear01 | 318 | ||||||
Expense Example, No Redemption, 3 YEARS | rr_ExpenseExampleNoRedemptionYear03 | 685 | ||||||
AAM/Bahl & Gaynor Income Growth Fund | Class I Shares
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Risk/Return: | rr_RiskReturnAbstract | |||||||
Trading Symbol | dei_TradingSymbol | AFNIX | ||||||
Maximum sales charge (load) imposed on purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||
Maximum deferred sales charge (load) (as a percentage of the lower of the net asset value at purchase or redemption) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||||
Redemption fee if redeemed within 90 days of purchase (as a percentage of amount redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | ||||||
Wire Fee | imstaam_WireFee | 20.00 | ||||||
Overnight check delivery fee | imstaam_CheckFee | 15.00 | ||||||
Retirement account fees (annual maintenance and redemption requests) | rr_ShareholderFeeOther | 15.00 | ||||||
Management fees | rr_ManagementFeesOverAssets | 0.80% | ||||||
Distribution and/or service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||
Other expenses | rr_OtherExpensesOverAssets | 0.41% | [2] | |||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.21% | ||||||
Fee waiver and/or expense reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.06%) | [3] | |||||
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) | rr_NetExpensesOverAssets | 1.15% | [3] | |||||
Expense Example, 1 YEAR | rr_ExpenseExampleYear01 | 117 | ||||||
Expense Example, 3 YEARS | rr_ExpenseExampleYear03 | 378 | ||||||
Expense Example, No Redemption, 1 YEAR | rr_ExpenseExampleNoRedemptionYear01 | 117 | ||||||
Expense Example, No Redemption, 3 YEARS | rr_ExpenseExampleNoRedemptionYear03 | 378 | ||||||
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AAM/Bahl & Gaynor Income Growth Fund | ||||||||||||||||||||||||||||||||||||||||||||
SUMMARY SECTION
AAM/Bahl & Gaynor Income Growth Fund |
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Investment Objective |
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The Fund’s investment objective is primarily current and growing income and |
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secondarily long-term capital appreciation. |
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Fees and Expenses of the Fund |
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This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of the Fund. More information about these and other discounts is available from your financial professional and in the section titled “Class A Shares” on page 13 of the Prospectus. |
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Shareholder Fees(fees paid directly from your investment) |
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Annual Fund Operating Expenses |
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Example |
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This example is intended to help you compare the costs of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The one-year example and the first year of the three-year example are based on net operating expenses, which reflect the expense waiver/reimbursement by the Fund’s advisor. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
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You would pay the following expenses if you did not redeem your shares: |
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Portfolio Turnover |
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The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. The Fund is newly-created and, as a result, does not yet have a portfolio turnover rate. |
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Principal Investment Strategies |
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Under normal market conditions, the Fund will invest at least 80% of its assets plus borrowings for investment purposes in equity securities that have historically paid dividends. Although the Fund may invest in any size companies, it will primarily invest in the common stocks of large capitalization companies. The Fund’s sub-advisor considers large capitalization companies to be those with market capitalization of $10 billion or higher at the time of purchase. Under normal markets conditions, the Fund typically will invest in a diversified portfolio of 35 to 50 securities spread across a variety of economic sectors. Investments in and weightings of individual sectors will vary based on the sub-advisor’s assessment of company fundamentals, valuations and overall economic conditions. The Fund’s sub-advisor focuses on high-quality companies that typically produce steady earnings and dividend growth.
The Fund may invest in foreign securities. The Fund’s investments in foreign securities will primarily be in American Depositary Receipts and similar receipts (“ADRs”). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. |
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Principal Risks of Investing |
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The Fund’s principal risks are mentioned below. Before you decide whether to invest in the Fund, carefully consider these risk factors and special considerations associated with investing in the Fund, which may cause investors to lose money.
Market Risk. The Fund’s share price may be affected by a sudden decline in the market value of an investment or by an overall decline in the stock market.
Equity Securities Risk. The value of the equity securities held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests.
Foreign Securities Risk. The prices of foreign securities may be more volatile than the securities of U.S. issuers because of economic and social conditions abroad, political developments, and changes in the regulatory environment of foreign countries. In addition, changes in exchange rates and interest rates may adversely affect the value of the Fund’s foreign investments. Foreign companies are generally subject to different legal and accounting standards than U.S. companies, and foreign financial intermediaries may be subject to less supervision and regulation than U.S. financial firms. The Fund’s investments in ADRs are also subject to these risks.
Risks of Mid-Cap and Small-Cap Companies. The securities of mid-cap or small-cap companies may be subject to more abrupt or volatile market movements and may have lower trading volumes or more erratic trading than securities of larger-sized companies or the market averages in general.
Focused Risk. Although the Fund is diversified, the Fund’s sub-advisor intends to focus its investments in the securities of a comparatively small number of issuers. Investment in securities of a limited number of issuers exposes the Fund to greater market risk and potential losses than if its assets were diversified among the securities of a greater number of issuers.
Management Risk. The skill of the Fund’s sub-advisor plays a significant role in the Fund’s ability to achieve its investment objective. |
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Performance |
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The Fund is new and it does not have a full calendar year performance record to compare against other mutual funds or broad measures of securities market performance such as indices. Performance information will be available after the Fund has been in operation for one calendar year. |
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